2021 Opens on a Down Note

The stock market opened 2021 on an up note, but we’ve already slid back into negative territory. On our Buy List, we’ve had new highs from Ansys (ANSS), Intercontinental Exchange (ICE), Stryker (SYK) and one of our newbies this year, Miller Industries (MLR).

(By the way, Senator Kelly Loeffler of Georgia, who is on the ballot tomorrow to fill out the rest of that term, is the wife of ICE’s CEO Jeffrey Sprecher. In no way is this a comment on the election or politics in general. I just wanted to point out this fact.)

Energy and Materials are doing well this morning, in a relative sense. Dividend stocks are doing the worst. This morning, we learned that construction spending rose 0.4% in November. In a few weeks, we’ll get our first look at Q4 GDP growth. So far, analysts seem to be all over the map. This Friday, we’ll get the December jobs report.

Also, Dogecoin jumped 125% in one day. This was due to improved fundamentals. No, I’m kidding. An adult actress tweeted about it.

Posted by on January 4th, 2021 at 10:41 am


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